With the release of untether iOS 4.3.1 jailbreak SeasonPass has been updated to support Apple TV 2G untethered iOS 4.3.1 jailbreak . It uses the same exploit which Stefan Esser has developed which was then used by iPhone Dev Team to release Redsn0w 0.9.6 RC9 and PwnageTool 4.3.1 for Mac.

This is what Firecore, the developer behind this Apple TV jailbreak tool as announced on his Twiiter account: